Mizuho’s Shen Says Yuan Band Widening Means De-Peg From Dollar
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Shen Jianguang, chief Asia economist for Mizuho Securities Asia Ltd. in Hong Kong, comments on the widening of the yuan’s trading band by the People’s Bank of China.
“A step forward to a real floating exchange rate of the RMB, a de-peg from the dollar, indicating that the authority is more confident that the current RMB exchange rate is close to the equilibrium, and it is the right timing to push RMB internationalization.